Brenda's Tucson Housing Market Report
Strong Market Activity in March
Federal Tax Credits Programs Expire April 30!
Spring Has Sprung, Buyers are Buying! March was a Great Month with increasing buyer activity. Sales Volume in March was up 62% over February! Buyers appear to have recognized that the bottom is past and are jumping in knowing we are at historic lows.
Sellers be aware! The Spring Selling Season will be coming to an end soon as snowbirds are already starting to wing home for the summer. There are only a few weeks left to catch the tail end of this buying group. The market demographics will shift soon, away from 2nd homes and vacation homes to families moving around during the summer months. If you are trying to sell to the second home buyer a price reduction may be in order, check with your realtor.
Interest Rates will rise soon. Rates will be going up soon, have no doubt about that! The spending spree the congress has been on for the last year or so pulling the country out of the recession will be back to haunt us as inflation is sure to heat up. Buyers, BUY SOON or you'll be kicking yourselves in the months to come as interest rates ratchet higher.
The Public Perception is Changing. It's as regular as clockwork, as any recession ends the public across the nation begins to become more optimistic and the press starts touting the improving economic conditions. This cycle is no different & as the public optimism improves we will see improving real estate markets both here and across the nation.
Feel free to contact us with your questions. We're easy to talk to, and we can answer any questions you might have about current market conditions or the Tax Credit Programs.
Key prior month statistics from the Tucson Association of Realtor’s April 2010 Report show:
Total Tucson Home Sales Units: 1,169, Increased 26.38% from March 2009. Increased 57.76% from last month.
Total Tucson Pending Sales: 1,549, Increased 28.23% from March 2009. Increased 9.32% from last month.
Tucson Average Sale Price: $201,710, Down .77% from $203,279 in 2009.
Northwest Tucson Average Sale Price: $246,639 Down from $256,734 last month.
Catalina Foothills Average Sale Price: $455,488 Up from $392,500 last month.
Total Tucson Active Listings: 6,799, Down 8.31% from 7,415 in March of 2009.
Northwest Tucson Active Listings: 1,786, Up 14 units from last month.
Catalina Foothills Active Listings: 744, Down 9 units from last month.
Total Tucson New Listings: 2,304, Up 315 units from 1,989 in March of 2009.
Northwest Tucson New Listings: 534, Up 18 units from last month.
Catalina Foothills New Listings: 189, Up 87 units from last month.
Some quick conclusions we can draw from these Tucson home sales statistics are:
Positive Market Indicators this month. Even More Buyers in the market now, We've been selling over 2 homes a week since the first of the year. Total Units Sold up 26% over last year. Pending Sales up 28% over last year. Active listings down over last year by another 8%. Total Volume (total dollars sold) up 25% last year. Short term we expect strong sales to continue.
Negative Market Indicators this month. Median Sales Price down 4% over last year, Average Sales Price down .77% from last year, this is almost flat and will soon turn positive as this trend starts back up. Tax credits are ending this month but that has not been a huge factor in this market so this should have a very small impact.
The Tucson Market Reports below will give you a detailed look inside the current Tucson Housing Market.
Questions about current Tucson Housing Market Conditions?
Email Brenda or call her Today at 520-918-5968
Return to Tucson Real Estate Home Page
Copyright ©1999-2016 All Rights Reserved